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RAK Properties
RAK Properties is a developer based in Ras Al Khaimah, the most northern of UAE's seven emirates, playing a vital role in the emirate's growth. Due to the unique landscape of the region with panoramic mountains and striking beaches, the developer could attract many foreign investments. RAK Properties also invest a lot in the region's infrastructure by building schools and recreation centers.
RAK Properties Finacial Statement
RAK Properties Public Joint Stock Company (PJSC) was founded under the patronage of Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah. The company's mission is to deliver high-quality and professionally managed projects that provide its customers with the highest level of service while maximizing their investments.
Despite difficulties that the real estate market faced in 2020, RAK Properties has reported an increased revenue to USD48.4M (AED178M), compared to $USD7M (AED136M) in Q3 2021. The firm also introduced several payment tools, including up to 10 years of payment plan; exemption of master community charges for up to seven years; waiver of property registration fees, and other benefits.
In its financial statement, RAK Properties stated that construction in Intercontinental Hotel and Resort, Mina Al Arab, and Anantara Mina Al Arab Hotel & Resort is still in progress. In comparison, many other developers in the region froze their projects.
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Conclusion:
- RAK Properties is a leading developer based in Ras Al Khaimah.
- Despite difficulties the real estate market faced in 2020, the developer improved its leading financial indicators and continued developing the current projects without delays.
- Established in 2005, now it is the leading developer with a portfolio comprising numerous real estate and tourism infrastructure objects and mix-use community developments.
- The company's most remarkable project is the Mina Al Arab district comprising two islands, Al Hayat being the most famous.
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Projects from the developer
All ProjectsBuilt in Districts
All AreasGolf Gardens
Set amongst luscious verdant spaces, Golf Gardens is an upscale residential community in Khalifa City A, managed by the UAE’s largest listed developer, Aldar Properties. Initially, the AED 1B (USD 272.2M) project was launched back in 2008 by Sorouh Real Estate in collaboration with the Tourism Investment and Development Company (TDIC). Since then, Sorouh Real Estate and Aldar Properties completed an AED 9.3B (USD 2.5B) merger in 2013, and as a result, the residential community belongs solely to Aldar Properties’ real estate portfolio.
Madinat Al Riyad
Madinat Al Riyad, also known as Zayed Military City, is a multifunctional district with an area of 8,000 hectares, located on the outskirts of Abu Dhabi. The community is close to Sheikh Mohammed Bin Rashid Al Maktoum Street, where one can get easy access to Sweihan Road (E20) and Al Ain Road. Among the areas which are situated nearby are Al Shamkhah, Al Shawamekh, Al Nahdah, Zayed Military City, Bani Yas and Al Falah.
Al Khalidiyah
Al Khalidiyah is a central district of Abu Dhabi, located just minutes from the Corniche beach and waterfront. The area combines modern apartments, villas, and townhouses with parks, schools, hospitals, and shopping destinations such as Khalidiyah Mall. Off-plan properties in Al Khalidiyah deliver average ROI of 6–6.5%.
Palm Jumeirah
Palm Jumeirah is Dubai’s most iconic island, shaped like a palm tree and home to luxury villas, apartments, and exclusive Sky Mansions. Residents enjoy private beaches, five-star resorts such as Atlantis The Palm, premium dining, shopping at Nakheel Mall, and unmatched waterfront living.
Hamdan Street
Hamdan Street, also known as Sheikh Hamdan bin Mohammed Street, is one of the central streets of Abu Dhabi which is 4km in length. It’s also considered the oldest area of the Emirati capital, which is also known for its shopping centers and premium properties. Here one can find 4 and 5-star hotels including Novel Hotel City Center, Al Maha Arjaan by Rotana and Crowne Plaza Abu Dhabi.
Gate City
Abu Dhabi Gate City is a suburban district at the Abu Dhabi's waterfront, previously called Officers City. The luxurious households are surrounded by renowned schools, landmarks, shopping centers, medical facilities and fine dinings. Due to its top-class facilities, such as private gardens and beaches, villas in the area are among the most sought-after properties in Abu Dhabi. Villas in Gate City include from two- to nine-bedroom configurations.
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